Tyco Electronics has laid off 10 percent of its employees in China, according to related source. The company asked nearly 20 employees to resign before January 1 in Shanghai. Most of them worked for the sales department.
In a recent email to employees, Tom Lynch, CEO of Tyco Electronics, said the company planned to lay off about 2,500 persons worldwide this year, and was suspending all pay raises. About 800 will be laid off in Asia-Pacific region.
Tyco Electronics manufactures precision products and had total sales of US$14.8 billion in 2008.
For more details, please read the complete story in Chinese here at http://www.dfdaily.com/node2/node27/node119/userobject1ai147104.shtml.
(China.org.cn January 16, 2009)